[AMA] Hi Ozb - I'm a Private Wealth Advisor

LSplice89 on 06/02/2025 - 15:16

Hey OzB,

I'm an experienced Private Wealth Financial Advisor, and I’ve spent over a decade helping professionals, business owners, and high-net-worth individuals navigate the complexities of personal finance and wealth management. Whether it’s retirement planning, investment strategies, tax efficiency, intergenerational and legacy planning I’ve seen and handled it all.
Given the ever-evolving financial landscape and the unique challenges it presents, I thought it would be great to host an AMA. I'm here to answer your questions about:

  • Investment strategies – How to build and grow wealth effectively
  • Retirement planning – Making sure you're on track for financial independence
  • Market trends & economic shifts – What they mean for your portfolio
  • Risk management & insurance – Protecting your wealth and family
  • Estate & legacy planning – Ensuring a smooth wealth transfer
  • Financial planning for business owners & executives – Maximizing opportunities
  • Debt management & tax-efficient strategies – Keeping more of what you earn

A bit about me: I spent the first deceade of my career as a Private Wealth Advisor in Australia’s largest Private Banks and now run recently running my own business, focusing on helping clients make confident, informed financial decisions without the fees associated with the Private Bank offering.

Disclaimer: While I’m here to provide general financial insights and information, this does not constitute personal financial advice. Every situation is unique, and I recommend consulting a financial professional for specific guidance.

So, OzB, what do you want to know about financial planning and wealth management? Ask me anything!

Introduce Yourself

Comments

    • shoppe on 07/02/2025 - 15:56

      One will never get wealthy by spending your money on unnecessary clothing items. (Does that answer your question?)

  • wannagrababargain on 07/02/2025 - 08:30

    Not everyone has $1m cash lying around to invest but many people in their middle ages are easily hitting $1m+ net worth. This industry is very confusing to a lot of people who might have a little bit of financial literacy but are not yet classed as 'high worth.'

    Say someone already has a few investments, are moving through stages of life, marriage etc, looking to continue expanding their portfolio with the aid of a professional but not necessarily looking to have their investments under management of an advisor. What would you call this type of professional? Financial advisor? Wealth advisor? Financial planner? First thing people do is often go to their bank but as you say the banks have stitched it up with high fees and own goals. Is it possible just to pay someone a one-off fee to review everything and make recommendations?

  • Oztack on 07/02/2025 - 08:54
    +1

    I remain intrigued by the common pricing model of charging fees based on assets under management. Can that be rationally justified?

    Does a $5 million dollar account with 25 securities in it take less 'work' for you than a $10 million account with 25 securities?

    Shouldn't the cost be based on work involved (perhaps reflected in the number of securities) rather than based a simple number?

    Having a client declared as a 'wholesale investor' reduces the amount of paperwork you need to generate (a lot!) when offering advice - do you charge your wholesale investors less?

  • eels are best on 07/02/2025 - 09:19

    @Splice89 Hi thx for taking time to start this thread. So my understanding is that when I turn 60 and not employed/retired I can withdraw my super tax free as a lump sum?
    So at age 60, technically I'm not employed but could I earn income from doing market research/surveys for various companies?
    Could I also earn short term capital gains regularly by trading Aussie futures markets? Would doing these still be classed as being retired from the workforce in the ATO's eyes?

  • cloudy on 07/02/2025 - 10:10

    what's your favourite book/books?

  • cloudy on 07/02/2025 - 10:12

    Do you (or the industry generally) receive fees from the investment products recommended by the wealth advisor?

  • andrek on 07/02/2025 - 12:53
    +1

    What education/licenses do you have? Say if, hypothetically speaking, I would want to provide the same services as you do - what would it entail to legally be able to do what you do?

  • JediJan on 07/02/2025 - 13:46

    Any suggestion for a senior to invest in, for late 20s son not quite ready to obtain a mortgage. I will also be inheriting 1/4 share on a house so he will have a 50% deposit.

  • peterw1 on 07/02/2025 - 14:05

    did you see the Global Financial Crisis coming and if so pre-emtively move into a defensive position such cash

  • tomlikesbeetroot on 07/02/2025 - 14:06

    High income earner - should I buy investment property in own name for tax benefits, or in a trust to preserve borrowing capacity?

  • arescarti42 on 07/02/2025 - 15:30
    +1

    What are the most common mistakes you've seen clients/friends/family make?

  • DMFD on 07/02/2025 - 15:57

    This is a terrible ad. This is why I dont watch TV!

  • Poor Ass on 07/02/2025 - 15:59

    do you have your own AFSL or under a banner arrangement, ACL or TPB registration?

  • Aerith-Waifu on 07/02/2025 - 17:01

    What are your top 5 shares to buy? 2 blue chip, 1 growth and 2 specs

  • squaredonut on 07/02/2025 - 17:35

    I know that people all say diversify, but to diversify you really need to have a sound knowledge and understanding of all segments of the markets, e.g. when bonds go down then something else tends to go up, etc etc.

    But for people who don't have the time, mindset, etc, would it just be advisable to just regularly put money into an ETF and do it overtime, or is that a bad option?

    • JIMB0 on 07/02/2025 - 18:13

      ETFs are a great option except for the people who make their money charging an absorbent fee for funds under management.

  • Bystander on 07/02/2025 - 17:44

    What would you suggest for someone who is about to turn 60 in the next year and is not working and doesn't anticipate working ever again?
    They have an accumulation Super account and have sufficient funds outside of super to cover living costs until their 70's.
    My understanding is that moving funds to an account based pension means that there will be no more tax on these assets. However an account based pension is used by Centrelink when assessing your total assets whereas an accumulation account is not.
    Is this correct?
    Would you recommend changing the existing structure?

  • Bystander on 07/02/2025 - 17:44

    If someone were to provide their Super fund with a “notice of intent to claim a tax deduction” and then deposit after tax money into Super as a Personal Deductible Super Contribution (or is it known as a Personal Concessional Contribution?) it will be taxed at 15%. How does this work out at tax time at the end of the financial year? They are depositing less than their remaining concessional contributions. Do they get a rebate for the double tax paid? Does this deposit reduce assessable income for income tax purposes?

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